Binance resumes withdraws after hack

Discussion in 'Bitcoin and other Cryptocurrencies' started by mlawson71, May 15, 2019.

  1. ml

    mlawson71 Member

    Mar 31, 2019
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    Five days after Binance, halted all withdraws in the aftermath of a hacker attack that erased 7000 bitcoins (roughly 41 million USD) from clients’ wallets, the crypto exchange announced it will resume all operations.

    Last week Binance, one of the biggest crypto currency exchanges on the market, announced that hackers used viruses and phishing to access their “hot wallet”, where 2% of the exchange’s assets are held, allegedly stealing 41 million USD.

    The announcement was made by Changpeng Zhao, Binance’s CEO, who assured investors that a number of security upgrades have been made, citing “some significant overhauls to our system, with a large number of advanced security features added and/or completely re-architected. We will share details on some of the changes later.”

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